Dr. S. M. Ali Akkasbrain Drain in Islamic Countries: How
Editorial
This issue of the journal contains four articles contributed by experts in different lines. Dr. S.M. Ali Akkas in his paper “Brain Drain in Islamic Countries: How to Reverse” tries to measure the nature and extent of brain drain in Islamic countries and in doing so followed the methodology and data sources used by Docquier and Marfouk and subsequently modified by Beine, Docquier and Rapoport in defining brain drain. He explains the meaning and measurement of brain drain as a one-way flow of highly skilled and educated people moving from their home country to other countries in search of better jobs, pay or living conditions as against brain exchange which implies a two-way flow of highly skilled persons between a sending and receiving country. The paper gives a vivid picture of world migration and brain drain and concludes that the regions most affected by the rate of skilled immigration are the Caribbean (42.8%) and areas in the Pacific Oceania (Micronesia 44%, Melanesia 32.3% and Polynesia 75.2%). Other affected areas worth mentioning are Eastern Africa (18.6%), Middle Africa (16.1%) and Central America. The share of Islamic countries in the OECD immigration stock, the paper observes, is 14.4%, of which 11.9% belong to the skilled category. The paper suggests some policy measures for reversing the brain drain in different countries in general and the Muslim countries in particular and calls for interventions both at individual country as well as OIC level.
Mr. Abdul Azim Islahi in his paper “Perception of Market and Pricing among the Sixteenth Century Muslim Scholars”investigates the perception of market and mechanism of pricing among the sixteenth century Muslim Scholars, a period hitherto unexplored. To set a proper perspective, he examines the situation in the Islamic tradition in earlier centuries before studying the understanding of market and pricing among the Muslim Scholars of the study period. He also deals with their stand regarding the price regulation. He examines the treatment of market and pricing in the works of contemporary western scholars and concludes with a note on just price, one of the most important economic concepts in the medieval period.
Mr. K.M. Mortuza Ali’s paper “Impact and Consequences of Globalization in Bangladesh Insurance Industry”examines the positive and negative impact of globalization onBangladesh’s insurance industry.He finds both challenges and opportunities in globalization and believes it has great implications for Bangladesh in asmuchas liberalization as emanated from globalization prompts competitionin which only the fittest can survive. He suggests quality improvement, product diversification and better speed in service delivery as the sine qua non for better growth of the Bangladesh insurance industry.
Prof. Md. Sharif Hussain in his serial paper (in Bangla) on the “Quranic View of Interest” explains the nature, meaning and significance of buying and selling with reference to Sura Al Bakarah, Verse 275-281 of the Holy Quran. He also defines profit, its sources and explains its differences with interest. The paper will continue.
Vol. 18, No. 01 ISSN 0256 8586 January-March 2008
Articles
Dr. S. M. Ali AkkasBrain Drain in Islamic Countries: How
to Reverse?
Abdul Azim IslahiPerception of Market and Pricing among
the Sixteenth Century Muslim Scholars
K. M. Mortuza AliImpact and Consequences of Globalization
in Bangladesh Insurance Industry
Professor Md. Sharif HussainInterest – The Quranic View
THOUGHTS ON ECONOMICS
Vol. 18, No. 01 ISSN 0256 8586 January-March 2008
Dr. M. Umer Chapra
Dr. Anas Zarqa
Dr. Fahim Khan
Dr. Monzer Kahf
Dr. Dilwanaz Siddiqi
A.S.M. Fakhrul Ahsan
Prof. Rafiqul Islam Molla
Prof. Mohammad Loqman
Dr. M. Ataur Rahman
Chairman:Shah Abdul Hannan
Editor in Chief:Professor Ayubur Rahman Bhuyan
Editor: M. Nurul Amin
Member:Prof. M. Azhar-ud-Din
Member:Prof. A.H.M. Sadeq
Member:Prof. M. Kabir Hassan
Member:Prof. Abu Baqar Rafiq
Member:Dr. S.M. Ali Akkas
Member:Prof. M. Muzahidul Islam
Member:Mohammad Nurul Islam
Member:M.A. Mannan
Member:Prof.Md. Sharif Hussain
Islamic Economics Research Bureau
60/E, Purana Paltan, Dhaka-1000, Bangladesh
G.P.O. Box No. 3966, Tel : 880-2-7168745, 01817-001915 (M)
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THOUGHTS ON ECONOMICS
Vol. 18, No. 01 ISSN 0256 8586 January-March 2008
Dr. S. M. Ali Akkas07Brain Drain in Islamic Countries: How to
Reverse
Abdul Azim Islahi33Perception of Market and Pricing among the
Sixteenth Century Muslim Scholars
K. M. Mortuza Ali43Impact and Consequences of Globalization in
Bangladesh Insurance Industry
Professor Md. Sharif Hussain57Interest – The Quranic View
THOUGHTS ON ECONOMICS
A Quarterly Journal of Islamic Economics Research Bureau
Vol. 18, No. 01, January-March 2008
ISSN 0256 8586
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